Living in the Present, Investing in the Future
Life is a two-sided coin. You need to live for today and save for the future. So many people live their life not bothered about saving for the future. If you ask them why they don’t save for the future, their excuses are always abounding. A good number will tell you that they make so little money that they have nothing left to spare after their regular expenditures. On the other hand, others will courageously tell you that they prefer living for the day and dealing with the future when it comes.
*Reasons why a Large Population Fails to Invest*
To a greater extent, failure to be enthusiastic about cash saving translates directly into people’s retirement saving attitude. According to Bankrate’s 2015 report <www.bankrate.com/investing/did-you-miss-the-stock-market-rally-youre-not-alone/>, nearly 52% of the American population owns no stock at all. From this population of non-investors, 7% said that they feared to bear the risk of investing, 9% held a reservation against stockbrokers, 21%indicated that they do not have sufficient education about investment, while 53% said they lack money to invest.
Whereas some of these people are planning to use their cash savings to fund their retirement, it is pretty clear to announce that the rest are avoiding this subject altogether. Sadly, most of them will live to regret this inaction.
*Why do people feel indifferent about planning for the future?*
At The Wealth Alliance, we opine that failure to plan is part of the known YOLO culture that has successfully captured the minds and hearts of the unsuspecting. For some reason, it has become less popular to hatch a plan for success than to not plan for the future. Most people find it a lot easy to blame their financial failure on their parents and the government than taking responsibility for their lives and stepping up. Most people would rather wait for someone to fix their problems than tackle them head-on. Saving the cash for rainy days has become less fun than instant gratification. Some people even find the “You only live once” slogan more appealing and would rather ignore their 401(K) as they fumble through life without any plan.
*Ask Yourself What Would Happen If You Live a Long Time*
So many people indeed die younger than expected. New retirees often drop-dead barely a few days after retiring. Some die of heart disease and cancer, among other conditions. Some people use these deaths as a clutch. But should you use early death as a reason not to invest? Some choose to spend their money with wild abandon. This mentality sounds fine and dandy, does it?
Well, the underlying reality is that many people also live long, healthy lives and eventually run out of money while they are still alive and relatively young. For every one person that dies early and never faces the wrath of failing to invest, there is an older person struggling to make ends meet and probably regretting why they never invested while still working.
*Choose to Live Your Golden Years Stress-Free*
While you live in the present and probably spend money on things that matter to you, you should open your mind to the reality of the consequences of failing to save and invest. If you are not scared by living your golden years in poverty, then nothing should. So, live your life for today; spend money on your valuables; go on vacation; have fun; enjoy each day with family and friends. Meanwhile, save a bit of your money and let the Wealth Alliance Long Island experts guide you in investing it for your future just in case you live longer because chances are, you will.
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